Business
Strike: Lagos Hospitals Doctors Offer Emergency Services
Skeletal activities were
within the week being rendered in both the Federal and Lagos State Government-owned hospitals in Lagos as the Nigeria Medical Association (NMA) embarked on sympathy strike with their colleagues.
The Tide reports that the NMA in Lagos State chapter had directed its members in the Federal Government-owned hospitals to join the sympathy strike.
The doctors in the employment of the state government had on March 16 embarked on an indefinite strike over the refusal of the state government to accede to their demands.
The issues in contention include the continued employment of doctors as casual workers and non-employment of resident doctors in the Lagos State University Teaching Hospital (LASUTH), Ikeja.
Other issues were the alleged non-payment of their salary arrears for May, 2012, and July, August and September, 2014 due to the “No Work, No Pay’’ policy of the state government.
The NMA Chairman in Lagos State, Dr Tope Ojo, last Monday directed his members in both the federal and state government-owned hospitals to run only emergency services during the sympathy strike.
Our correspondent’s visit to LASUTH, Lagos University Teaching Hospital (LUTH), Idi-Araba and Federal Neuro-Psychiatry Hospital, Yaba, showed that the doctors were only attending to emergency cases.
Other health personnel including nurses, pharmacists and laboratory scientists were seen attending to the few patients on admission and in the out-patient unit.
The Tide reports that normal activities were going on at the National Orthopaedic Hospital, Igbobi and Gbagada General Hospital as the doctors were seen on duty attending to patients.
Mrs Nike Ayo, the Public Relations Officer, National Orthopedic Hospital, said that doctors under the aegis of Association of Resident Doctors had written to the hospital’s management on the strike.
According to her, the resident doctors had notified the hospital authorities about the directive of the union to proceed on indefinite strike in support of their counterparts in the state.
The NMA Publicity Secretary, Dr Ibrahim Ogunbi, also told our source that doctors were only on ground to render emergency services.
Ogunbi said that doctors were passionate about their patients and would ensure that they get medical attention in spite of the strike.
He said that the national body of the association might be involved in the strike if the state government refused to accede to the doctors’ demands.
“Lagos State Government has remained unresponsive and has decided not to care for the people. NMA has joined the strike, but we are also providing emergency services.
“If the Lagos State Government does not do the needful, it may be a national issue,” he said.
Also speaking, Dr Sa’eid Ahmad, the President, Association of Resident Doctors, LASUTH Chapter, urged the public to appreciate the doctors who make sacrifices to ensure that they were attended to.
Ahmad said: “The objective of this industrial action is not to punish the citizens or watch people dying.
“We are still offering emergency services and as for those patients that have been on admission before the commencement of the action, we are still attending to all of them until they get well and are discharged.’’
He said that there had been no progress on all the doctors’ discussions with the state government in spite of the interventions by both the national and state chapter of NMA.
Dr Wale Oke, LASUTH Chief Medical Director, said the hospital’s management would ensure that patients that need medical attention are attended to.
“We will attend to patients only on emergencies as the doctors have provided services for emergencies,’’ he said.
Dr Raman Lawal, the Chief Medical Director, Psychiatry Hospital, Yaba, also said: ”I cannot make any comments about the strike. “But, the doctors are attending to the patients available and those in the wards are also being taken care of.”
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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